Based on your system description your Chord Hugo TT2 is a competant DAC. I have a Chord Qutest I use in my headphone setup and have tried it in my two channlel system and with my system it is not in the same league as my PS DS MK1. I do understand the Hugo and Chord is not quite apples to oranges, but an Fuji to Granny Smith apples comparison. Since you also own the Qutest, you have first hand eperience with differences. Quite happy with the PS DS MK1. I just saw one used that had the upgraded Edcor XS4400 transformers and JK Richards’ external power supply for a reasonable price. That said the MK2 is an upgrade based on the user reports. PS Audio does allow returns if you want to try the MK2. It is a chunk of change, but likely a worthwhile upgrade.
There is a comparison between your Chord Hugo and the DS MK2 on the PS Audio forum here. I was looking if there was a listing of compatable DACs via I2S with PS Audio tranport on that forum when I saw this.